Casella Waste Systems (CWST) Downgraded by Zacks Investment Research to Hold

Casella Waste Systems (NASDAQ:CWST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Casella Waste Systems, Inc. is a regional, integrated solid waste services company that provides collection, transfer, disposal and recycling services, generates steam and manufactures finished products utilizing recyclable materials primarily throughout the eastern portion of the United States and parts of Canada. The Company also markets recyclable metals, aluminum, plastics, paper and corrugated cardboard all processed at its facilities and recyclables purchased from third parties. “

A number of other analysts have also weighed in on the stock. BidaskClub upgraded shares of Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, December 29th. KeyCorp reiterated a “buy” rating on shares of Casella Waste Systems in a report on Friday, November 3rd. Finally, Stifel Nicolaus lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating and set a $19.00 price objective for the company. in a report on Wednesday, October 4th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $18.40.

Casella Waste Systems (NASDAQ:CWST) traded down $0.78 during trading on Wednesday, hitting $22.38. 296,062 shares of the stock were exchanged, compared to its average volume of 374,400. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of -7.91. The stock has a market capitalization of $967.83, a price-to-earnings ratio of -17.22 and a beta of 0.72. Casella Waste Systems has a one year low of $11.15 and a one year high of $23.29.

Casella Waste Systems (NASDAQ:CWST) last posted its earnings results on Wednesday, November 1st. The industrial products company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. The company had revenue of $160.27 million during the quarter, compared to analyst estimates of $154.61 million. Casella Waste Systems had a negative net margin of 9.09% and a negative return on equity of 56.99%. Casella Waste Systems’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share. sell-side analysts anticipate that Casella Waste Systems will post 0.64 earnings per share for the current year.

In other Casella Waste Systems news, CEO John W. Casella sold 62,433 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $19.31, for a total value of $1,205,581.23. Following the completion of the sale, the chief executive officer now directly owns 472,112 shares in the company, valued at $9,116,482.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher Heald sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $20.25, for a total transaction of $30,375.00. Following the completion of the sale, the vice president now owns 71,451 shares of the company’s stock, valued at $1,446,882.75. The disclosure for this sale can be found here. Insiders sold 200,524 shares of company stock valued at $4,077,303 over the last 90 days. 11.47% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp increased its stake in shares of Casella Waste Systems by 7.3% during the second quarter. State Street Corp now owns 707,702 shares of the industrial products company’s stock valued at $11,615,000 after purchasing an additional 47,955 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Casella Waste Systems by 42.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 291,400 shares of the industrial products company’s stock valued at $4,782,000 after purchasing an additional 86,562 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Casella Waste Systems by 140.9% during the second quarter. Macquarie Group Ltd. now owns 1,024,544 shares of the industrial products company’s stock valued at $16,813,000 after purchasing an additional 599,264 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Casella Waste Systems by 18.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 84,100 shares of the industrial products company’s stock valued at $1,381,000 after purchasing an additional 13,000 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake in shares of Casella Waste Systems by 104.5% during the second quarter. Nationwide Fund Advisors now owns 117,208 shares of the industrial products company’s stock valued at $1,923,000 after purchasing an additional 59,881 shares in the last quarter. Institutional investors and hedge funds own 79.30% of the company’s stock.

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Casella Waste Systems Company Profile

Casella Waste Systems, Inc is a solid waste services company. The Company provides resource management services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services. It manages its solid waste operations on a geographic basis through two regional operating segments: Eastern and Western regions, each of which provides a range of solid waste services, and its recycling and commodity brokerage operations through its Recycling segment.

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